Facebook has introduced it’s on payment system known as Facebook pay which allows you to send money, do shopping and donate money. It will be used across all the platforms of facebook which includes instagram and whatsapp. You will have to enter your preferred payment method which can include debit, credit cards and paypal and after that you can start using facebook pay. It will be directly linked to your bank account and your money will not be stored in your facebook wallet. The facebook pay is available for the web version of the facebook and also on the messenger.
Is Facebook Pay Safe?
Facebook has made the facebook pay very secure. When you use facebook pay you will have to connect your debit, credit cards with the website, therefore facebook has taken extra care when it comes to protecting your information regarding payments. The facebook pay will securely store your bank account numbers and encrypt the card data you have entered while registering with the facebook pay. So here are the steps that facebook have taken to make it safe for the users:
Anti Fraud Monitoring: This is an automated process and facebook will take care and monitor all the purchases done on their website and also detect if there’s any fraudulent transactions done from your account.
Data Security: Your banking data is completely secure with the facebook pay. When you make any purchase , the information regarding your cards is not shared with any of your buyers, sellers and merchants. The data is stored separately from your facebook account data.
Customer Support: If you feel like some unauthorized transaction has been carried out by your account, you can contact customer support by email or you can also contact support through live chat between 6.00AM to 6.00 PM.
Create Pin: You can use fingerprints, facial recognition and also create a pin on your device for securing your information.
App Notifications: You will receive push notifications on your device and your web browsers whenever any transaction will be carried out from your facebook pay account.
Confidentiality: Every transaction you do is kept confidential and is not shared with your friends unless you allow them to share.
As we have seen in the above points facebook pay is absolutely secure and you should not worry about leaking your confidential banking data.
How Does Facebook Pay Works?
Facebook Pay is one of the most secure and a convenient method to make payments acoss, facebook, instagram, messenger and Whatsapp. You have to enter your information only one time and then you can use it across all the apps which are under facebook. You will not need to download any extra app and you can use this on your current apps. It is also really easy to setup as you only need to add your debit card, credit card and paypal account information and you are good to go. One more point is that you will not incur any charges for sending money to your friends with the facebook pay.
How to Set up Facebook Pay?
Facebook Pay is really easy to set up. You can follow the below mentioned steps to get started with the facebook pay.
- Open the facebook website or the messenger app.
- Go to settings and click on “Facebook Pay”.
- Add your preferred payment method which can be debit, credit card and paypal.
- Thus your facebook pay is setup and you can use it to make payments.
How to Send and Receive Money with Facebook Pay?
As we now have set up the facebook pay, we will now see how to send and receive money to friends with the help of facebook pay.
How To Send Money with Facebook Pay?
You need to go through the following steps if you want to send money to someone through your facebook pay account:
- Go to chat if you are using the website and open the chat window for the person you want to send money to.
- Then there will be a dollar sign on the chat window (“$”), click on dollar sign and click next.
- Enter the amount you want to pay and then click next.
- After that your money will be sent to your friend to his account through facebook pay.
How to Receive Money with Facebook Pay?
It’s also a very simple process to receive money through facebook pay. Here are the steps to receive payment by facebook pay.
- Open the chat window of the friend who has sent you the money.
- If you already have linked your debit card or paypal with facebook pay, money will directly go to your linked account.
- If you don’t have your account linked with facebook pay, then click on “Add Debit Card” and enter the debit card number on which you want to receive your money.
Note: It might take 3-5 business days to receive the money in your bank account.
Facebook pay is still new and has been launched in the USA on the website and messenger. It will be launched in more countries and on some apps and it will cover more people across the world in the coming apps.